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Finance Bill, 2020

Income Tax, Sales Tax and Custom laws relevant amendments made by the Finance Bill, 2020.

This document contains amendments [Proposed] made in relevant laws through Finance Bill, 2020 (i.e. Tax year starting from 1 July 2020 to 30 June 2021) in Income Tax, Sales Tax, FED and Customs law. 

We at Sharjeel Ayub & Co Chartered Accountants (Sayub) made an effort to present above mentioned amendments in the simplest possible form so that readers get an understanding for proper tax planning.

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Learning Hub

SnoArea of workTasksLevelSee Video
1Appeals (filed against order)How to prepare appeal to CIR(Appeal) FBRLevel 2
2Appeals (filed against order)How to apply Stay when case is AppealLevel 2
3Appeals (filed against order)How to check any update on appeal filedLevel 1
4Appeals (filed against order)How to file adjournment for appeal hearing noticeLevel 1
5Appeals (filed against order)Attend hearing before CIR (Apppeals)Level 3
6Appeals (filed against order)How to prepare appeal before ATIRLevel 2
7Appeals (filed against order)How to prepare stay for case before ATIRLevel 2
8Appeals (filed against order)Attend hearing before ATIRLevel 3
9Appeals (filed against order)How to file appeal before SRBLevel 2
10Appeals (filed against order)Attend hearing before SRB Commissioner AppealsLevel 3
11Audit of financial StatementsHow to issue list of required documentsLevel 1
12Audit of financial StatementsHow to prepare planning documents for auditLevel 2
13Audit of financial StatementsHow to prepare and send Bank ConfirmationsLevel 1
14Audit of financial StatementsHow to prepare working papersLevel 2
15Audit of financial StatementsHow to prepare complete financial statements along with notes to the financial statementsLevel 2
16Audit of financial StatementsHow to format and print final hard copies of financial statements clients along with Audit reportLevel 2
17Book keepingHow to use quickbooks (QB)Level 1
18Book keepingHow to prepare make entries in QBLevel 2
19Book keepingHow to run reports in QBLevel 2
20Certification and reviewsHow to prepare cases received under HBFC section 15 assignmentLevel 1
21Certification and reviewsCost of funds working under section 15Level 2
22Certification and reviewsIssuance of notice under section 15Level 2
23Certification and reviewsIssuance of report under section 15Level 2
24Corporate ConsultancyHow to create SECP ID / Delete SECP IDLevel 1
25Corporate ConsultancyHow to Apply for CTC in SECPLevel 1
26Corporate ConsultancyHow to apply for New Company registration with SECPLevel 1
27Corporate ConsultancyHow to prepare subscription money certificateLevel 1
28Corporate ConsultancyHow to file FORM A_29Level 1
29Corporate ConsultancyHow to file FORM 29 for change in office i.e. Director, CEO, Secretary, CFO or auditorLevel 1
30Corporate ConsultancyHow to check for any objection received from SECP and submit reply to objection online / off-lineLevel 2
31OpinionsHow to draft opinions on tax matters  other corporate mattersLevel 3
32RegistrationHow to prepare and submit documents for registration with Sindh Trust Act. and FOLLOW upLevel 3
33RegistrationHow to Obtain NTN IRISLevel 1
34RegistrationHow Enroll on FBR IRISLevel 1
35RegistrationHow to run Forget Password IRISLevel 1
36RegistrationWhat to do if client does not have access to email or mobile #Level 1
37RegistrationHow modify FORM 181 IRIS, change address, mobile # or email ID, add or delete business, add or delete business activity.Level 1
38RegistrationHow to apply for Sales tax registration IRIS (Manufacture / non-manufacturer)Level 1Watch Tutorial
39RegistrationHow to file 2(36)(C) (Application for Approval as Non-Profit Organization)Level 2
40RegistrationHow to file application to change tax yearLevel 2
41RegistrationHow to file application to change tax yearLevel 2
42RegistrationHow to file Application for Recognition of Provident Fund/ Gratuity FundLevel 2
43RegistrationHow to file Application for De-Registration of Sales TaxLevel 1
44RegistrationHow to apply for registration with SRB, BRA , PRA and KPRA.Level 1
45RegistrationHow to register Partnership firmLevel 1
46RegistrationHow to apply for KCCI registrationLevel 1
47Return filingHow to Check Online Taxpayer VerificationLevel 1
48Return filingHow to download registration cerificate / Order 181Level 1
49Return filingHow to Check ATL List Income Tax & Sales taxLevel 1
50Return filingHow to file return of Salaried personLevel 1Watch Tutorial
51Return filingHow to file return of Business personLevel 1
52Return filingHow to file return of Non-residentLevel 1
53Return filingHow to file return of Company (Pvt, Ltd)Level 2
54Return filingHow to revise Income tax returnLevel 1
55Return filingHow to file application for Income tax refundLevel 1
56Return filingHow to revise Wealth statementLevel 1
57Return filingHow to apply for extension in due date of Annual Income tax returnLevel 1
58Return filingHow to apply for extension in due date of Withholding statementLevel 1
59Return filingHow to apply for extension in due date of Sales tax returnLevel 1
60Return filingHow to apply condonation for sales tax if revision is made after 120 daysLevel 1
61Return filingHow to download income tax submitted returnsLevel 1
62Return filingHow to prepare IT deduction challans and download paid challans from FBR portalLevel 1
63Return filingHow to prepare challan for ATL Surcharge, Appeal fee, demanded tax, admitted taxLevel 1
64Return filingHow to file WHT statements (Quarterly)Level 2Watch Tutorial
65Return filingHow to file Sales tax return (Annex C, Annex A, Annex B, Annex D, Annex F, Annex J, Annex G etc) Invoice managementLevel 2
66Return filingHow to file SRB, BRA , PRA and KPRA monthly sales tax returnLevel 2
67Return filingHow to prepare tax challans for SRB, BRA , PRA and KPRA monthly sales tax return.Level 2
68Tax exemptionsHow to file exemption u/s 150, 151, 152, 153, 235 etcLevel 1
69Tax exemptionsHow to calculate advance tax liabilityLevel 2
70Tax exemptionsHow to follow up for exemption certificate.Level 3
71Tax Notice / AuditHow to check inbox for new notices etcLevel 1
72Tax Notice / AuditHow to check outbox for notice replied / appeal pending etcLevel 1
73Tax Notice / AuditHow to check any order received. For e.g Exemption order, Order by CIR(Appeals) etcLevel 1
74Tax Notice / AuditHow to file adjournment for hearing of any noticeLevel 1
75Tax Notice / AuditHow to prepare reply to Notice under Rule 44 / Show cause u/s 161Level 2
76Tax Notice / AuditHow to prepare reconciliation under Notice under Rule 44 / Show cause u/s 161Level 2
77Tax Notice / AuditUnderstanding of section 122(5A) / 177 / 214C of  Income TaxLevel 3
78Tax Notice / AuditHow to reply notices u/s 122(5A) / 177 / 122(9)Level 3
79Tax Notice / AuditHow to refer to Ordinance, Act, Rules case laws while drafting a reply.Level 3
80Tax Notice / AuditAttend hearing before DC/ ADC / CIRLevel 3
81Trademark registrationDo you have basic idea how to deal for Trademark registration clientLevel 1

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ID Passwords – FBR

S.noNameIDPasswordTeam member
1Uroosa Jabeen4210133927170Abc123456$Jawad Bashir
2Dr Shafaq Saleem42201226883863rcxnaxcphJawad Bashir
3Maria D souza4230115112202ovveo4blewJawad Bashir
4Abdul Basit Chaudary4210139404737Pakistan@123Jawad Bashir
5Sarwat4220184034096a5fgnsjl9bJawad Bashir
6Imran5210490422581xhpgqhbosrJawad Bashir
7Tanveer Ahmed4230167155627e2rh2lxapiJawad Bashir
8Adeel Arain (tahira Anjum)4230109749625Pakistan@123Jawad Bashir
9Sharjeel Ahmed4230128287781Password_1Jawad Bashir
10Suneela Ahmed MAK4200004057074Suneela12345$Jawad Bashir
11Lal Baksh Abrar4220118850407nswaplpdqvJawad Bashir
12Shakeel ahmed4230129498311Password_1Jawad Bashir
13Muhammad Saleem4230159380155yeb5krvtwoJawad Bashir
14OMAR4220181171235Cdkcn7iihu*Jawad Bashir
15Mirza Nasir Iqbal4210177346127Pakistan@123Jawad Bashir
16Aliya Yousuf4230101089972akxuavuh3wJawad Bashir
17Muhammad Aslam3130224817765zvuoxssrnuJawad Bashir
18Mukesh4150703412935ucrbsg8sg1Jawad Bashir
19Zarina Qavi4210114607200xjwkyq7n5hJawad Bashir
20ZohairUllah Qureshi42201705276517ydzjose12Jawad Bashir
21Umme Hani Shaikh4210143170656alkys7bdx3Jawad Bashir
22Uzma Kashif4230109783512jtvlxyv1gdJawad Bashir
23waqar abbas4210161060717P@kistan110Jawad Bashir
24Waqas Tahir Malik3740509691459Tahir@71245547Jawad Bashir
25zafar Jamil4200005383773zkhrkssodzJawad Bashir
26Tasneem Mesiah4230139476066obxyydjxdxJawad Bashir
27Syed Irfan4210163640443kjfbllddj6Jawad Bashir
28Syed Javed Akhtar4240118805693sji83bw567Jawad Bashir
29Syed Nafees Rais Rizwi4210115864587skv60cercqJawad Bashir
30Syeda Qubra Bibi4250113536904ocqz1y3sr1Jawad Bashir
31ABDUL KARIM KHAN SHIRAZI4250136171617Karim12345$Jawad Bashir
32Sohail Ahmed4220126758453Pakistan@123Jawad Bashir
33Sumera Shirazi4200017828740Sumera12345$Jawad Bashir
34showana Fahad4220163082314Showana1*Jawad Bashir
35Shahnaz Mastoor4210130777702Shahnaz3123$Jawad Bashir
36Shahzad Jamil4230109634093Pakistan@123Jawad Bashir
37Shaista Ahsan4210110035294shAista1*Jawad Bashir
38Shabana4220163082314Showana1*Jawad Bashir
39Shafqat Masood4250115859375Pakistan@123Jawad Bashir
40shagufta4210175857366o9m3xfwanvJawad Bashir
41Muhammad Naeem4230110014659NysybuvFJawad Bashir
42shahana tariq khan4230108614480Pakistan@123Jawad Bashir
43Shaheen Munnawar (Ghulam)42101146733823geeqtaxkaJawad Bashir
44Sadia Atif4210102107280dcumruzj5jJawad Bashir
45Sadia Ejaz4210171027572mmaoogq3enJawad Bashir
46Sajid Ahmed4220151722231yqckzjs6ufJawad Bashir
47Saqib saeed and quratullain4230145236045saeed12345Jawad Bashir
48Rustam Iqbal4210147832135@Durvesh1Jawad Bashir
49S Murtaza4210192336495tox9xph8x5Jawad Bashir
50Saad Ahmed4220180589309f2owp63mwyJawad Bashir
51sabin Basit4210117011690Pakistan@123Jawad Bashir
52Sadia Amir4220117047508mbptlhnyptJawad Bashir
53rehan Mustafa4220107036995lyzaw3hsbyJawad Bashir
54Rehan Ref Faraz42301423957379oaf3pjvakJawad Bashir
55Rehana Rais42101222411741z9kwbgspzJawad Bashir
56rehmat shah4250167708229sllldcrlqaJawad Bashir
57Rizwan bari4220103377145kzvb65sszrJawad Bashir
58Obaid Ullah4210139443973oeygsqgkruJawad Bashir
59Owais kabir4210194474121olisreqlyqJawad Bashir
60Owais yameen4210149570119hm9wmizcazJawad Bashir
61Pireh Waqas4230126161012yaabghizkoJawad Bashir
62Rabia Aftab4210188377618eghah0ybsgJawad Bashir
63Raees ur rehman1350160544963Pakistan@123Jawad Bashir
64Rahim Ali4220134118485rsrsnu5kmiJawad Bashir
65Faaz4210125721963FAAZali!1Jawad Bashir
66Najam and Faaz (Salaried)4210129613263Najam12345$Jawad Bashir
67Nasreen Sheikh4230107760364Nasreen3123$Jawad Bashir
68Naveed Hashmi4220107167697Naveed_Hashmi80Jawad Bashir
69Nazli Nizami4220106066168uxoxrreux0Jawad Bashir
70Noman Baloch4240155168677ABcd@10576Jawad Bashir
71Muzaffar Ali4210117902671Sd4iO39jJawad Bashir
72Nadeem ref Munnawar Iqra Uni4220151217117Nadeem@300Jawad Bashir
73Naeem Ahmed4220107237385lp1uaaixfsJawad Bashir
74Mumtaz Iqbal (Rustam Iqbal)4210165338102@Mdurvesh1Jawad Bashir
75munnawar Iqra’4220131911737Shekjani@2002Jawad Bashir
76Murad Asif4210117733895hl9ijhj5evJawad Bashir
77Musarat qamar42101145327105fa7phqljnJawad Bashir
78MUSHTAQ AHMED4230112402549ithzwtneoqJawad Bashir
79Mushtaq Ali Bhutto4220107405409smcnmyhrgqJawad Bashir
80Mustafa Kamal32304058888151a779i78i6Jawad Bashir
81Muhammad Jawaid Wakani4230104500929PakistaniJawad Bashir
82Muhammad Shoaib Khan4220143169975vsyfjbewe1Jawad Bashir
83Muhammad Yahya Qasim Bawa farida42000030458195kaldbsezpJawad Bashir
84Muhammad Zafar Ullah Gondal3630290258497dwfjoaqgfwJawad Bashir
85Muhammad Zaki4210104728963spzpu1yzgmJawad Bashir
86Muhmmad Farooq Danawala4220124038179w4wcianlhxJawad Bashir
87Muhammad Arif NPU4210103469273k8yidjr0ukJawad Bashir
88muhammad hussain4220184184537Abdulahad123$Jawad Bashir
89Muhammad Idrees4230110594749cwwqfwtyfgJawad Bashir
90Muhammad Iqbal4210165964419Pakistan@123Jawad Bashir
91Muhammad Javed4220119292657gspvefnwulJawad Bashir
92Mohamamd Khawar42201578912772bfudhvwgkJawad Bashir
93Mohammad Iqbal onali4220105242371RECovery3/$Jawad Bashir
94Mohammad Ismail4230110784495oipv247o38Jawad Bashir
95Moin uddin4210189275047mohiuddin12345Jawad Bashir
96Momin Najeeb Khan4210135607353MOMOdaz17073!Jawad Bashir
97Muhammad Ali4230162342261p34fd0vxh0Jawad Bashir
98Mirza Ali Akhtar4220121206493mirza12345Jawad Bashir
99Kanzeez Abbas4220110120636i5pgeptoysJawad Bashir
100Margaret4230107388176Pakistan@123Jawad Bashir
101M Farooq Gogan4220110456653wdgrcb0lpcJawad Bashir
102M. Bilal4220125816859ynckfbge10Jawad Bashir
103M. Ovais4230186949449Ovais12345$Jawad Bashir
104Madiha Abbasi NPU42201830307944otxeimlk6Jawad Bashir
105Major Hassan Azeez wife3520252415788krt8k5nymfJawad Bashir
106khursheed  Ahmed (Ghulam)4220112621979Abc123*Jawad Bashir
107Khwaaja Muhammad Iqbal4220190592215ComplexPassword@1Jawad Bashir
108Lajbar khan2110326247271sq4ibpvh5cJawad Bashir
109Jaswant essarani4130698549453flcqd4whkzJawad Bashir
110Jawaid Louise42101256114594osc6sithdJawad Bashir
111Jawaid Moten4130328139167ep1gkfsukmJawad Bashir
112Junaid4210119175239hgrqqqvgviJawad Bashir
113Sami4200044293537lcmdz51i2wJawad Bashir
114Junaid Munnawar4230112675161Junaid123*Jawad Bashir
115Khalid Zia4230103285323p8Gxo85Jawad Bashir
116KHAWAR JAN JAPAN42201578912772bfudhvwgkJawad Bashir
117Imrana Bano4220105986932Pakistan@123Jawad Bashir
118Intesar sahab4220194073033hrsz2wwvwjJawad Bashir
119Irfan Siddiqi4210163640443kjfbllddj6Jawad Bashir
120Ismail mastoor4210174644119ismail12345Jawad Bashir
121Izhan Pakages4210117904205Pakistan@123Jawad Bashir
122Hassan Car dealer4220144551297Hassan12345$Jawad Bashir
123Hina Sir Sharjeel4210121551186mix41gjqwrJawad Bashir
124Ibrahim Freelancer web developer4220106043989plnfptajneJawad Bashir
125Hamid Rizvi4210138406375Hamid9999@Jawad Bashir
126Harris (Salaried Case)4210115634991haris12345Jawad Bashir
127Harris Masood Zaki9150901119143Zaki@123Jawad Bashir
128Hasnain4210120814267pdzpohsgk6Jawad Bashir
129Fahmeeda Amanullah4220195324430ul6u6zbhukJawad Bashir
130farheen siddiqui4210161817672xwrt8zkgtiJawad Bashir
131Farida Amir42301065514728dadfcd1Jawad Bashir
132Gulrukh Ahmed wife of Aamir Nayab4250109164636mbox7zq2jtJawad Bashir
133Fahad Ali Khan (Non resident)4130434192463rwvqiggwioJawad Bashir
134Haider Zaman4230108989401ztgxdiuvfrJawad Bashir
135Comondore Jawad father4250127682935t5hau5secqJawad Bashir
136Comondore Jawad Wife4220103514256rauixgt78zJawad Bashir
137Fahad Yamin4220102700209rcm4jhemufJawad Bashir
138Dr Fariha Saddiq4230109869274docham@131177Jawad Bashir
139Dr Ghazala Asfar4220105723314Apple.123Jawad Bashir
140Azra Abid4220154310818spxawkz0e2Jawad Bashir
141Batool4230163933064wlsvljylsqJawad Bashir
142Begum masooda sultana4210157649730Sultana@12345Jawad Bashir
143Arham Asfar6110122995277Arham12345$Jawad Bashir
144Arifa Nayab4250162520978s7rw6zlm23Jawad Bashir
145Ashir saeed42201756070393pjkoxo6xsJawad Bashir
146Asim Brother4210192916783w5vsof5ctnJawad Bashir
147Asma Azeem NPU42101162510866vlmfbev01Jawad Bashir
148Ayesha Malik4220144857906Ayesha3123$Jawad Bashir
149Anum Ahmed4220144979630bbmrkajlu8Jawad Bashir
150Anum Saeed4230196559608 qk5nfoy4beJawad Bashir
151Aqeel messihah4230191543583rle45wmkdmJawad Bashir
152anwar Iqbal4220148164993Anwar12345$Jawad Bashir
153Arfana Quais4210154182678jmi7hwc3saJawad Bashir
154Amaad Traders4230149674601H$73760p21625_$Jawad Bashir
155Amir Ashraf4220183185825Pakistan@123Jawad Bashir
156Andrew Peter johan4230115200241 byivkiptqwJawad Bashir
157ALI IMRAN4220117802825Imran3123$Jawad Bashir
158Ali Saya4220161959875Alisaya12345$Jawad Bashir
159Alina Saeed6110143619806prsheypuwcJawad Bashir
160ahmad madni42101742522256folbf0mvzJawad Bashir
161Abdul Azeem4210113361609Azeem1959Jawad Bashir
162Abdul Faheem4200005272729q9lcxzba3jJawad Bashir
163Abdul Jawwad4220149026831q1rh6oqmlsJawad Bashir
164Abdul Qayyum3520115221129s2dj11xc7wJawad Bashir
165Abdul Samad42201592235510gzh8lkcgjJawad Bashir
166Abdullah Molvi Sahab4220197494153fkhovyzu9uJawad Bashir
167Abdur Rasheed4230155579211zxdgfputegJawad Bashir
168Afsheen zafar (NPU)4220166829752wi3qg4hinqJawad Bashir
169Aamir Rais4210129440171l3thol1jaqJawad Bashir
170Nasir waltec industry4210146372641Pakistan@123Jawad Bashir
171Aijaz Ahmed4240119370153Ajaz@2020Jawad Bashir
172Syed Hashim Ishaq4230170356129ell0u924xsJawad Bashir
173Lajbar Khan2110326247271sq4ibpvh5cJawad Bashir
174Sardar Ghaziani42201054529790qocfrfkutJawad Bashir
175Ghulam Abbass4220141707135Union@654Jawad Bashir
176Abdul Hameed4220105050843QFuwDZArJawad Bashir
177Waseem Danel4220103491097ivfk4c9dr5Jawad Bashir
178Rafaat3210302805092p5tt6tasojJawad Bashir
179Muhammad Saleem Fishri4230191865753saleem12345Jawad Bashir
180Parvesh Kumar4330485527447trh03chspzJawad Bashir
181Khuwaja Muhammad Iqbal4220190592215ComplexPassword@1Jawad Bashir
182Muhammad Qasim4200003045819 5kaldbsezpJawad Bashir
183Fayyaz Thaheem Isl4230114088551Psuscip1@Jawad Bashir
184Dr Asif Mirza4230110559923Pakistan@123Jawad Bashir
185Haris ID PASS4210115634991haris12345Jawad Bashir
186Rashid4250115061261tzujluezhqJawad Bashir
187Shaista Ali4210110035294shAista1*Jawad Bashir
188Muhammad Arif4210103469273k8yidjr0ukJawad Bashir
189Muhammad Yousuf Shaikh4210163936213bdfkjrqzheJawad Bashir
190Ibrahim Software exporter4220106043989plnfptajneJawad Bashir
191azra Abid4220154310818spxawkz0e2Jawad Bashir
192Sarwat Ashraf4220184034096a5fgnsjl9bJawad Bashir
193Shamim Farooqui42000037268912xmlg60qi3Jawad Bashir
194Hira Rizwan4220192071512b5xsccqbh0Jawad Bashir
195Tahira Fahad4230113452248ecwqozau0iJawad Bashir
196Dr Wasim Qazi4210171084275Wasim123456$Jawad Bashir
197Nabil Mudasser4220105886967h5wAEYoEJawad Bashir
198Asim Wasi co Sajid Hanif4230124494765mtm7h5lqzyJawad Bashir
199Zubaida Qazi Wife of Mr Wasim Qazi4210165093660Zubaida123456$Jawad Bashir
200Shazia4220113776754Yamtooba123!Jawad Bashir
201Ali Abro42301834840275rtwg8rnynJawad Bashir
202Sohail Ahmed Shaikh4230163299939blljwv3ia8Jawad Bashir
203Tahira anjum4230108942948bbzglb81sgJawad Bashir
204Anum Saeed4230196559608qk5nfoy4beJawad Bashir
205Azra ref tahira Anjum4230108942948bbzglb81sgJawad Bashir
206Junaid Ahmed42101622388011z0zuqixxyJawad Bashir
207Sabin Abu Talib4210117011690Pakistan@123Jawad Bashir
208Fahad4160105847777pymu5cmm2zJawad Bashir
209Fawad4160105977861bsjsdq46ozJawad Bashir
210Dr Najia4220196287604Password/1Jawad Bashir
211Dr Aftab4250114927643kxb3tovw4sJawad Bashir
212Zeenat Begum4220165104386sandnrn2Jawad Bashir
213Zafar Anwar4220184069135yt9wgk8i94Jawad Bashir
214Shaheryar Ali4220193798629Chemistry4*Jawad Bashir
215Amir Nayab42501865457073DbD5GVVJawad Bashir
216Saeed Meezan Bank42000057434157k69sc2bc9Jawad Bashir
217Muhammad Waheed4220105313181F4020A19Jawad Bashir
218Rakhshanda rizwan4220103015442i0gj5uwy7pJawad Bashir
219Abdul Hafeez KSA4210140146423Cheeta@007Jawad Bashir
220Fayyaz Family KSA3520080077363D4domain2003ESL@7866Jawad Bashir
221Ramla Fayyaz35202024903868jzp3g7g5cJawad Bashir
222Muhammad Shahid Sherieff3520014916799eq9tbdocqlJawad Bashir
223Mehmood Hassan KSA4230109272413Mehmood3123$Jawad Bashir
224Hina Shamim4210197758102ufixbag6r2Jawad Bashir
225Tayyaba WIfe of Farhan Munir4210117869120Fast@1153Jawad Bashir
226Mufti Aqeel Munir4230187499713Password/3$Jawad Bashir
227Numair Khan4230150835019Pakistan@123Jawad Bashir
228Farhan Munir4210115760779Fast@1153Jawad Bashir
229Hassan Ansari4200054564733jb8anyjtg6Jawad Bashir
230Faisal Waheed4200065127193FAisal1234$Jawad Bashir
231SANA Hussain1720197608958p9s5ewpbifJawad Bashir
232taha Dossal4220161638461Taha3123$Jawad Bashir
233Asif Zia4210117359099Zia123456$Jawad Bashir
234Faisal Bin Mehmood4210123863307oaei7ywsatJawad Bashir
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Fbr rates for property

FBR rates for properties

Fbr rates for property in Pakistan is hot issue these days as FBR has recently made upward revision in already prescribed FBR rates.

We believe most of our readers have an understanding of FBR prescribed rates for valuation of Immovable properties. For those who are not clear about these rates, following a detailed information about these rates and why these rates were introduced.

Why there are FBR rates for property

Cost of any asset we purchase or expense we incur has direct connection with FBR, as it is FBR’s duty to be satisfied whether the money used to buy those assets or fund those expenditures were properly taxed at first stage (at the stage when this money was earned). In case there is any indication that buyer is not taxpayer / non filer then it creates doubts about whether the money is tax-legal. So FBR can initiate action against the buyer. We understand that it is not necessary that all buyers should be taxpayers or filers there are exceptions available within the law itself.

So FBR can initiate action against the buyer. We understand that it is not necessary that all buyers should be taxpayers or filers there are exceptions available within the law itself.

Keeping you in above narrated scenario, you would agree that the single most important thing would be the value of that asset or expenditure as in case of underdeclaration, FBR would not be able to investigate the tax leakage.

Lets understand this by an example.

Lets assume Mr. A has been taxpayer but he usually understate his income by 50% i.e. if he earns Rs 1,000,000/- he declares only Rs 500,000/- and remaining routed off the records cash or benami transactions. By doing this Mr. A has accumulated a wealth of Rs 5,000,000/- but officially has only Rs 2,500,000/= (due to underdeclaration). If Mr. A buys any asset worth Rs 5,000,000/= the FBR may questions the difference of Rs 2,500,000/= since FBR records shows Mr A’s worth as Rs 2,500,000/-.

Lets assume Mr. A has been taxpayer but he usually understate his income by 50% i.e. if he earns Rs 1,000,000/- he declares only Rs 500,000/- and remaining routed off the records cash or benami transactions. By doing this Mr. A has accumulated a wealth of Rs 5,000,000/- but officially has only Rs 2,500,000/= (due to underdeclaration). If Mr. A buys any asset worth Rs 5,000,000/= the FBR may questions the difference of Rs 2,500,000/= since FBR records shows Mr A’s worth as Rs 2,500,000/-.

Now here comes the role of real estate market, which has been favourite arena for tax-evaders. In Pakistan immovable property has to be registered with registration authority where value is taken as higher of actual deal rate or rates as per registration authorities’ own books. For example in Sindh, if any property is transferred revenue department would compare the actual deal rate (communicated by buyer / seller) with rates as per their books (as per Sindh provincial law) and choose higher of two to apply registration / transfer charges.

We understand that these rates were introduced to curb underdeclaration of immovable properties rates. For example if any property is Rs 1 million as per provincial books but actual deal is executed at Rs 2 million then Rs 2 million (Higher of Rs 1 million or Rs 2 million ) would be considered for registration / transfer charges.

It is not difficult to manipulate actual deal rate for example in above example if buyer / seller intentionally under-declare their deal rate to as low as Rs 100,000/- even then the system would consider Rs 1,000,000/- (being higher of Rs 100,000 or Rs 1,000,000) for all official purpose i.e. registration / transfer etc.

However this Rs 1 million was required to be updated from time to time so that any manipulations by buyer /seller would not have any effects on Government’s Revenue. Unfortunately those provincial rates were not updated and the situation become weird as provincial values are very low when compared with actual market of immovable properties.

Buyers / sellers were taking advantage, of this legal delay in update of values, by declaring lower rates of actual deal.

The most problematic part was not the registration / transfer charges the Government was losing due to this delay in value update, but the value to considered for the purpose of reconciliation by FBR of the taxed earned money was also the same provincial value. FBR despite knowing that the person cannot purchase any particular asset, due to his low wealth position, was not able to take action as the values were supported by provincial authority, and FBR was not empowered to go against those rates as per Income Tax law.

In this way tax evasion, was to some extent, took support from provincial law. However in the year 2016, Federal Government feeling the loss caused due to this tax leakage started its efforts to streamline provincial authorities immovable properties rate in line with market rates which was declined by Provincial authorities.

Resultantly, FBR traveled long route of prescribing FBR rates for property in almost all areas in Pakistan (however these do not cover whole Pakistan but major cities). These published rates are applicable for collection of Federal levies at the time of registration / transfer of immovable properties.

Initially, immovable properties rates for major cities in Pakistan were published in the year 2016 in the month of July. However these rates were not equal to the market rates but were representative of almost 30% to 40% of the actual market rates which were somehow better than the provincial rates.

However after lapse of almost two and half years the Government felt the need to revise these rate in upward direction.

For immovable properties rates as prescribed the year 2016 please refer our post Click here

City-wise FBR rate for property 2019-20






















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tax on rental income

Tax on Rental Income 2019-20

If you are searching for Tax applicable on rental income from property in Pakistan, your search ends here on this post.

Amendment made in income tax law through Finance Act, 2019 results in addition of more slab rates applicable to rental income of property.

No income tax is applicable for annual rent income which is equal to or less than Rs 200,000/-

In case the tenant is withholding agent for tax purpose, he will deduct tax according to the following slab at the time of payment of rent.

Tax rates applicable on rental income (also Withholding tax rates)


Gross amount of Rent

Applicable rate (For individual & AoP)

Does not exceed Rs 200,000


Rs 200,000 to Rs 600,000

5% of the gross amount exceeding Rs 200,000

Rs 600,000 to Rs 1,000,000

Rs 20,000 + 10% of the gross amount exceeding Rs 600,000

Rs 1,000,000 to Rs 2,000,000

Rs 60,000 + 15% of the gross amount exceeding Rs 1,000,000

Rs 2,000,000 to Rs 4,000,000

Rs 210,000 + 20% of the gross amount exceeding Rs 2,000,000

Rs 4,000,000 to Rs 6,000,000

Rs 610,000 + 25% of amount exceeding Rs 4,000,000

Rs 6,000,000 to Rs 8,000,000

Rs 1,110,000 + 30% of amount exceeding Rs 6,000,000

Exceeding Rs 8,000,000

Rs 1,710,000 + 35% of amount exceeding Rs 8,000,000

(Source: Finance Act, 2019 effective from 1st July 2019 to 30 June 2020)


Case I

In case rent of building is Rs 25,000 per month which means annual rent of Rs 300,000/- it will fall under 2nd slab and annual tax shall be Rs. 5,000 [5% of 100,000]

Case II

In case rent of building is Rs 170,000 per month which means annual rent of Rs 2,040,000/- it will fall under 5th slab and annual tax shall be Rs. 218,000 [20% of 40,000 + Rs 210,000]

Beneficial or not?

One may be curious to know whether the amendment as aforesaid and revised rates are beneficial or cruel to the taxpayers, so they would be happy to know that revised rates are carefully aligned with previous regime where income was taxed on NET basis. Average rate of tax in this regime is 3% to 11%.

You may contact us for any query or tax advice.

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Sales tax registration process 2019

Sales tax registration process has been recently simplified by FBR. This post is going to be a pain reliever for many small and medium business owners who are unregistered for sales tax purpose and the companies they buy products stopped selling goods to them due to their unregistered status.

The Government in its latest Budget i.e. Budget 2019 or Finance Act, 2019 made commendable efforts for documentation of economy. However some sectors of the economy believes that these measure are abruptly introduced by the Government, without denying the need for documentation they believe the implementation of these measure could be made in steps wise setup.

Without being biased on the Government’s step or the reaction of those steps by the business community we believe that the Government is simultaneously facilitating the people for implementation of it documentation of economy drive.

One of the facilitations provided, which we believe ‘Pain reliever’ is simplification of Sales tax registration process and removal of human intervention from the process. However minimal involvement of FBR officials is still there in the form of physical site verification but this is done after approval of registration which means it does not hurdles your business, you can start your business transactions from the very moment you got registration.

Before this simplified process for sales tax registration, business owners had to work both ways i.e. official and unofficial way to get it done. Further the time to get registration for other than manufacture business was not less than 15 days and for manufacturing business registration it was 30 days to say the least. Pertinent to mention that during this period you were not allowed to transact your business legally which includes sale, purchase and import of goods or machinery.

One can understand the pain of restriction on business when business owners are all-ready to get registration. What was taking that much time for registration of business ‘willing’ to get registration?. The answer to this question is well known to FBR, all we know is that the same registration is done in minutes after the introduction of this new process.

So, coming to the new system, lets discuss briefly about the process and time required.

Process for sales tax registration :

The process starts with online application for which you need following

1.            Two Pictures of Office / Shop / Warehouse (One from outside)

2.            Picture of electric meter

3.            Electricity bill

4.            Business Bank Account maintenance certificate

5.            Pictures of Plant and Machinery (only in case of Manufacturer)

6. Code received on mobile of any of the selected Director of the Company (only in the case of Company)

Note: Location services must be “on” in your mobile while taking photos

Time required for sales tax registration:

1 hour. For manufacturer and non-manufacturers.

After sales tax registration compliance:

1. Once registration is complete and sales tax registration number is allotted within 30 days, you will need to visit any NADRA center for bio-metric verification, in case of company the selected director’s visit is required. This is very important step as the consequence of not doing this step will make your registration ‘inactive’ which will expose you to the same old methods of getting things done officially or unofficially to make your registration active again. So it’s very important to get this step done as soon as possible within 30 days of registration.

2. Monthly sales tax return filing After registration, sales tax return filing becomes mandatory even if there is no activity or you got registration on the last day of the month. You will need to calculate your sales payable (if any) on 15th day of the month subsequent to registration and file sales tax return on 18th day of the month subsequent to sales tax registration.

3. Facilitate visit by FBR officials Even in the new process, in the case of manufacturers, FBR officials would visit the manufacturing site (day, time the name of person visiting would be informed in advance to avoid any confusion or mal-practice). Physical inspection thing is fair enough in view of mal-practices business owners do, for example there are many cases discovered by FBR where there was no manufacturing facility was available and the registered person was enjoying benefit that are available to a manufacturing concern only.4. Reply to any notice issued by FBR. Notices from FBR should be respected and taken seriously as FBR is one the most powerful fiscal authorities in Pakistan further being Government’s functionary it should be treated with priority. Having said that, the Sales Tax Act, 1990 requires every registered person to provide any information that may be requested by FBR from time to time. In case of non-compliance penalty as well as other repercussions will follow. We tried to cover major difficulty areas for sales tax registration or FAQs related to the subject.


Nonetheless, our readers are requested to seek professional advice before concluding anything based on the information provided above. Before closing this post, we feel it appropriate to inform that the new process has all good things to do, however there is no option of modification therefore you need to do it correctly in the very first time. You may contact us for more information.

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Income Tax Return form 2019

Draft for Income Tax return form 2019 is available for testing purpose which means it cannot be submitted at this stage, however once expected formula errors are corrected by FBR the return shall be ready for submission.

To have look on the returns as proposed by FBR please follow the link to FBR official website

Click here for Income Tax return for Company

Click here for Income Tax return for Salaried Individuals , Business Individuals and Association of Person

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Are you confident about your tax filing ?

It is misconception in Pakistan that return filers are generally questioned more than anyone else, there may be other reasons for this, but in our 25 years of practice we generally encounters issues created by tax filers for their own selves due to “incorrect” tax filing inviting FBR to take action.

When comes to tax filings, there is certain group who dont prefer to file it at all.

However there are filers as recently FBR announced surprisingly great increase in Tax filers, however the question whether they are confident about their tax filings is unanswered in many cases.

In many cases, simple transactions are carelessly declared by novice consultants or by taxpayers themselve resulting in undue notices.

This creates overall bad impression that FBR issues notices to FILERS however this not correct when Income Tax return with errors is filed.

Therefore we believe one should be very careful while filing his / her income tax return to avoid tax notice, as tax filing does not automatically qualifies it to be “Correct” filing, your Income tax return has to pass the test of assessment by FBR.

For more information please watch the attached video or contact us.

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Finance Act 2019

Finance Act, 2019 Summary & Tax rate card

This document contains amendments made in relevant laws through Finance Act, 2019 (i.e. Tax year starting from 1 July 2019 to 30 June 2020) in Income Tax, Sales Tax, FED and Customs law.

We at Sharjeel Ayub & Co (Sayub) made an effort to present above mentioned amendments in simplest possible form so that readers get an understanding for proper tax planning.

Sayub comments contained in the documents represent our views / interpretations of the amendments therefore should not be taken conclusive on legal ground without our prior advice.

We sincerely believe that this document is simple and as precise as possible nevertheless, you may ask for further details by contacting us.

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2nd Reminder by FBR to file Income Tax Returns

This is May 2019 which is the second last month of the tax year 2019, and FBR is doing much needed action which is to REMIND the tax filers who missed to file their Tax returns to FILE all previous returns so as to avoid avoidable penalty for late filing. Please note that there is a minimum penalty of Rs 20,000/- ( Rupees Twenty Thousand Only) in case return is filed late thats not complete here there is an additional per day penalty @0.1% tax due. Therefore each passing day has its consequence of increasing penalty amount. However this additional penalty can be avoided.

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